Are you in the market to buy (or sell) a Kia Sephia in Ibadan? Vehiclus studied the used auto market of all metropolitan areas in Nigeria to determine a pricing profile of various Kia models depending on their age, technical condition, optical condition, and mileage. In order to maximize your earnings when selling your Sephia (or to make sure to not be ripped off when purchasing a Kia Sephia) it is a good idea to know all price-determining factors.
Ibadan is a metropolitan area with a population of 3565108 inhabitants. However, it is hard to find more than a handful Kia Sephia on the market at the same time. Hence, the supply is small and the demand depends on a multitude of parameters for example brand reputation, mileage, and reliability.
As seen below, cars of the make Kia and specially of their model Sephia devaluate in a very usual process. The mean value of the Sephia will be lowered by 13% ($21,563) after only one year. After three years, the car typically costs only 64% of its original asking price ($15,443) while it will only be worth 30% of the original price after 7 years ($6,166). The Sephia's value after 12 years is only 12% of its original price depending on its condition of course.
Another way to analyze vehicle depreciation is to examine the decrease of value over kilometers driven. The Kia Sephia depreciation curve below illustrates this phenomenon for the city of Ibadan. The Sephia looses most of its resell price (ca 50%) within the first 20,000miles (30,000km) driven. The typical price for a Sephia at that mileage is approximately $13,947. After that the depreciation slows down: at 90k kilometers the Kia Sephia is sold for $8,074 in Ibadan and for $3,219 at 180k km of mileage.
The last value that significantly impacts the sell price of a second-hand car is the technical and optical condition of the vehicle. The table below shows the deflation of a Kia Sephia according to its year and its condition.
|Vehicle Year||Kia Sephia Condition|
|Kia Sephia variations:|
|SEPHIA 1600 4P|
|SEPHIA 1600 4P BVA|
|SEPHIA 4P 1600|
|SEPHIA 4P BVA|
|SEPHIA 4P 1600 BVA|